Diversification or distraction?
Diversification can make your business more resilient when done well but needs to be properly planned for you to succeed.
When is the right time for diversification? What should you consider, and what tools are available to plan a farm diversification? Watch this webinar to find the answers to these questions and more; and hear the real-life story of a successful diversification.
You should ensure your existing enterprises are running smoothly, meeting the objectives set out in their business plans and are on target for the projections set out in their respective profit and loss accounts. Any issues in your current business could be magnified if you diversified.
Should you decide to diversify, you would need to produce a business plan. The guidance we’ve provided on this website is aimed at agricultural and horticultural businesses. For diversification, you should also research your competition, consider product and pricing, and how you would market your product or services to potential customers. These aspects should be included as additional sections in your business plan.
- The Government website has information on Diversifying farming businesses - whilst this guidance was withdrawn in June 2019, it is still valid and useful
- Farm Business Innovation Show has information for landowners seeking to diversify
It is always important to get advice and guidance when considering the future of your business and any potential diversification, and communicate with anyone involved. Visit our Talking things through page to find out more.
Writing a business plan
Farms that write a formal long-term business plan are more profitable than those that don’t
Funding opportunities
- Find out more about the RDPE Growth Programme - expressions of interest need to be submitted by 16 February 2020
- Contact your Local Enterprise Partnership for funding and support available through their Growth Hubs
Other crops and renewable energy
- Industrial energy and non-food crops: business opportunities for farmers
- Industrial fibre crops
- Renewable energy
- Farm anaerobic digestion
- Wind power
- Solar photovoltaic (PV)
- Agroforestry and silvopasture
Leisure and hospitality
- Bed and breakfast
- Holiday accommodation, glamping
- Wedding venues
- Livery
- Permitted development rights for agriculture and forestry
- Permitted development rights for the change of use of agricultural buildings
- Business and commercial lettings: a guide for landowners
- Educational activities
- Farm attractions
On-farm production and sales
- Direct meat sales and box schemes
- On-farm dairy processing: a beginners guide
- Yogurt/ice cream/pasteurised milk
- On-farm small-scale cheesemaking
- Raw drinking milk and raw cream control requirements
- Farm shops and farmers’ markets certification, licensing and other requirements for food safety, hygiene and labelling
- The National Farmers’ Retail and Markets Association
- Exporting food
Related content
Personal objectives
Your personal goals are just as important as your business objectives. Take some time to think about what makes you happy.
Business objectives
Understand your current situation to get where you want to be
Making changes to your business
Explore the options available to you